ВПЛИВ ЄВРОПЕЙСЬКИХ ФОНДІВ НА РОЗВИТОК ЕКОНОМІКИ (НА ПРИКЛАДІ УКРАЇНИ, ГРУЗІЇ, МОЛДОВИ)

Abstract

The article examines the features of the influence of European funds on economic development (on the example of Ukraine, Georgia, Moldova). The specifics of the European Structural and Investment Funds, including the European Fund for South-Eastern Europe (EFSE) and the EU4Business Initiative, which covers all EU support programs for small and medium-sized enterprises (SMEs), are revealed. EFSE is a pioneering impact investment fund. Its blended finance structure set a precedent for combining capital from public and private investors in order to mobilise more resources for sustainable development. EFSE’s solid, fifteen-year track record in expanding financial inclusion has made it a role model for development finance. The EU4Business initiative covers all EU support programs for small and medium-sized enterprises (SMEs) in the Eastern Partnership countries, which unite the EU with its Member States and six partner countries: Azerbaijan, Belarus, Armenia, Georgia, Moldova and Ukraine. Peculiarities of functioning of the considered European structural and investment funds are singled out. The current state of the economy of the analyzed countries is characterized. The principles, rules of organization of regional policy, standards of financing of regional development policy and standards for evaluation of realization of projects of European development funds are defined. It is determined that the regional development funds finance projects aimed at strengthening economic and social cohesion in the EU, correcting imbalances between its regions. It has been studied that the European Fund for South-Eastern Europe contributes to the economic development and prosperity of the countries of South-Eastern Europe and the Eastern Partnership through investments in the success of micro and small enterprises, etc.